Legal Question in Credit and Debt Law in Michigan
Statute of limitations on a personal loan
I loaned an individual money on two separate occaisons, Nov. 1999 and Jan. 2000. Has the statute of limitations for me to collect in small claims court expired?
Asked on 7/11/03, 9:04 pm
1 Answer from Attorneys
Thomas Weiss
McClintic & Weiss, P.C.
Re: Statute of limitations on a personal loan
No, the statute of limitation is six (6) years. Even if beyond six years, a person may be able to establish that there was a reaffirmation and still be able to proceed against the debtor.
Good Luck,
Tom Weiss
Answered on 7/14/03, 11:12 am
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